Navigate Up
Sign In

NCUA Posts Two New Economic Videos

Updates Focus on Improving Economic Trends and Derivatives Proposed Rule

ALEXANDRIA, Va. (June 24, 2013) – The National Credit Union Administration (NCUA) released a new economic update on the agency’s official “YouTube” channel today. NCUA Chief Economist John Worth’s two-part segment features an overview of key economic indicators and a discussion on NCUA’s recently proposed rule on derivatives.

In the opening segment, Worth provides commentary on the current state of the national economy and a brief analysis of key economic indicators. Topics covered include a recovering housing market, recent improvements in the labor market and solid consumer confidence statistics. Worth also discusses the recent rise in interest rates and potential challenges to credit unions.

The second segment features a discussion on NCUA’s recently proposed rule on derivatives between Worth and special guest J. Owen Cole, Jr., Director of the Division of Capital and Credit Markets in NCUA’s Office of Examination and Insurance.

During the May open Board meeting, the NCUA Board issued a proposed rule allowing certain well-managed credit unions with assets above $250 million, and with appropriate safeguards in place, to purchase limited amounts of simple derivatives—interest rate swaps and interest rate caps—as a means to hedge against risk from rising rates. The proposed rule is part of the Board’s strategy to enhance credit unions’ means for managing their interest-rate risk. NCUA has prepared a Q&A on the proposed derivatives rule, which is available online here.

NCUA’s economic updates are an ideal resource for credit union board members, loan officers and management. You can access the latest economic update video for free on NCUA’s official “YouTube” channel at http://www.youtube.com/ncuachannel.



NCUA is the independent federal agency created by the U.S. Congress to regulate, charter and supervise federal credit unions. With the backing of the full faith and credit of the U.S. Government, NCUA operates and manages the National Credit Union Share Insurance Fund, insuring the deposits of more than 97 million account holders in all federal credit unions and the overwhelming majority of state-chartered credit unions. At MyCreditUnion.gov and Pocket Cents, NCUA also educates the public on consumer protection and financial literacy issues..

--NCUA--

National Credit Union Administration

Office of Public & Congressional Affairs

703.518.6330
pacamail@ncua.gov

Contacts:

John Fairbanks
Office: 703.518.6336
jfairbanks@ncua.gov

Ben C. Hardaway
Office: 703.518.6333
Mobile: 703.298.5223 bhardaway@ncua.gov

Kenzie Snowden
Office: 703.518.6334
ksnowden@ncua.gov

"Protecting credit unions and the consumers who own them through effective regulation"